During 6 months, 2016 chemical plants of Azerbaijan reduced production by 16.1% against the same period in 2015.
According to the Azerbaijan State Statistical Committee, during 6 months the plants produced pharmaceutical, rubber and plastic products to the amount of 248.7 million AZN. From January to June 2016 decline of manufacture chemical products constituted 16.1%, pharmaceutical products – 18.8%, rubber and plastic products - 22.9%.
According to the statistical data, during 6 months, 2016 production of argon went up by 7.1% up to 105,200 cub.m., barium sulfate by 11.8% up to 31,800 tons, propylene by 1.7% up to 27,900 tons, polyethylene by 8.1% up to 52,300 tons, ethylene by 8.5% up to 54,000 tons, isopropyl spirit by 37.3% up to 6,215,700 tons, and paints by 57.4% up to 2,695 tons.
From January to June 2016 production of iodine dropped by 18.1% to 96,400 tons, methanol by 79.9% to 445,300 tons and washing detergents by 12.1% to 50 tons.-0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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